No change on electric-rate front

The Illinois Senate convened briefly on Wednesday but did not vote on legislation that would roll back electric rates to their 2006 levels.

Senate President Emil Jones, D-Chicago, had said Tuesday that such a vote might happen on House Bill 1750, which would head to Gov. Rod Blagojevich if the Senate approved it.

But the bill’s Senate sponsor, Sen. Ira Silverstein, D-Chicago, said Wednesday that the legislation is on hold because of recent movement in the negotiations aimed at fixing Illinois’ electricity problems.

“I think they’re getting very close to some kind of compromise,” Silverstein said.

“Things have changed dramatically (compared with last week). We’re encouraged by what’s happening.”

He would not disclose any specifics.

Beginning in January, the cost of electricity rose dramatically for customers of Commonwealth Edison and Ameren Illinois because a long-standing rate freeze expired. Some customers saw their power bills double or triple.

That rate freeze was part of the state’s 1997 deregulation law, which did not apply to municipally owned utilities such as Springfield’s City Water, Light and Power.